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Tauro Secures $52M Financing for Ventura MultiFam Development
Tauro Capital Advisors has facilitated $52 million in construction financing for a 125-unit, 10,000-square-foot mixed-use development in Ventura, CA. Tauro’s Matt Bucaro and Frankie Paparella negotiated the transaction on behalf of Leap of Faith Partners, a Los Angeles-based developer.
“The developer was originally sourcing LP Equity for this transaction which would have given them $6 million in cash-out, based on the imputed land value. The LP investor backed-out of the transaction, so they hired us to source high leverage debt,” said Bucaro in a news release.
Added Paparella, “We are looking towards C-Pace financing as market volatility continues. With the Fed putting pressure on short-term financing, debt funds are pulling back and Pace lenders are able to withstand the volatility with competitive terms.”
The total loan amount is $52.4 million, with $30 million coming from a senior lender and $22.4 million from C-PACe (Stonehill).
- ◦Financing
